HSAI · Hesai Group
AI read · Neutral
The AI's read
Hesai posted Q2 revenue RMB 861 million, up 22% year-over-year, and GAAP net income RMB 71 million, up 60%. LiDAR shipments rose nearly 80% and management raised SGI and full-year LiDAR guidance. Market reacted by dropping about 6% intraday, which clashes with the upbeat numbers. That contra-move suggests investors want proof the SGI revenues and margins are sustainable. We lean neutral for now and will wait for follow-through or more detail on customer concentration and margin durability. If the stock stabilizes and guidance proves credible, we would reassess toward a bullish stance.